Author Topic: Facebook get hit with $122 million dollar fine  (Read 292 times)

Offline Fujitsu

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Facebook get hit with $122 million dollar fine
« on: May 18, 2017, 06:53:16 am »
Facebook is being handed a hefty $122 million dollar fine by the EU over their WhatsApp takeover and maybe not being as forthcoming as they should have with some of the information when they were buying WhatsApp and have been deemed to have violated the Merger Regulations. Since this is a legal proceeding, chances are good it'll be challenged or appealed, but even in the end if they have to pay the fine I'm sure Facebook is going to be just fine. For more details head on over to Engadget.

   After months of deliberation, the European Commission has ruled that Facebook intentionally mislead officials over its ability to utilize data following its acquisition of WhatsApp in 2014. As a result, the social network has been fined €110 million ($122 million or £94 million) and becomes the first company to be penalized under the Commission's Merger Regulation law since it was introduced in 2004.

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